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Entrepreneurs’ Decisions in Perceived Environmental Uncertainty
British Journal of Management, Volume: 34, Issue: 2, Pages: 831 - 848
Swansea University Author: Paul Jones
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DOI (Published version): 10.1111/1467-8551.12612
This research advances the understanding of entrepreneurial decisions in the context of perceived uncertainty related to regional political instability. Using qualitative data from a sample of 29 entrepreneurs, we captured the entrepreneurs’ perceptions of uncertainty and how these perceptions infor...
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This research advances the understanding of entrepreneurial decisions in the context of perceived uncertainty related to regional political instability. Using qualitative data from a sample of 29 entrepreneurs, we captured the entrepreneurs’ perceptions of uncertainty and how these perceptions informed their judgement and led to confidence in their decisions. The perceptions of uncertainty that influenced the entrepreneurs’ decision-making were grouped into three main categories: efforts to understand changes in regional markets; efforts to understand changes in local markets; and identifying multiple and compounded layers of uncertainty. The entrepreneurs’ decisions were informed by the interactions between their perceptions of a dynamic and changing environment and their judgements about mobilising resources in response to that environment. The findings of this research extend the current understanding of how entrepreneurs use judgement to arrive at decisions in contexts of uncertainty and highlight the dynamic relationship between individuals and context. The research has theoretical and practical implications for developing and leveraging entrepreneurial decision-making in uncertain environments.
Entrepreneurship; perceived uncertainty; judgement-based approach; decision-making; self-efficacy
Faculty of Humanities and Social Sciences